Scotiabank forecasts 24% rise in TSX Q3 profits, Energy up 55%
BNS Bank Of Nova Scotia
$92.66 -0.71%
View chart & analysis → - 1Scotiabank forecasts Q3 EPS of C$515 for the S&P/TSX Composite Index, a 24% increase year-over-year
- 2Growth slows from 32% in Q2 but 12-month total hits record C$2,010, with Energy up 55% and Materials up 39%
- 3A gap exists as Canada's GDP growth is limited to about 1% annually while financial and resource companies account for 68% of the index
So what's the key point?
Third-quarter profits for major Canadian companies are expected to increase by 24% compared to last year. While the national economy is growing slowly, financial and resource companies, which make up 68% of the index, are driving profits up.
Source Investing.com · View original ↗
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